Advanced Certificate in Future Ready Rewards Strategies Module 3: Future of Base Pay
- Human Resource
2 Days
Who Should Attend
Business Owners, Managers, Team Leads, HR professionals and Business Executives
Pre-requisites:
Minimally a Diploma
Overview
Base pay or base salary is traditionally differentiated based on a defined “job scope,” job level, performance, experience and other factors. These time-tested approaches however, do not work well for flexible “agile” roles, gig/fixed-term workers, open-ended independent contractors, remote and mobile workers. This module aims to explore the limitations of prevalent base pay structures and decision processes including offers, review, promotion and off-cycle adjustments; and presents principles and methods to help guide base pay for non-traditional work arrangements. We look at structural alternatives using geographic differentials, Compa-ratio transfer, wide ranges, dual ranges as well as pure value-for-money negotiation, and flexpay wherein pay mix is negotiable.
Learning Objectives
At the end of the 2-day module, participants will be able to:
- Understand the assumptions underlying current base pay structures and processes, and identify when alternative or modified approaches are needed or is advantageous.
- Develop policies and tools to determine effective and fair base pay for non-employed (contract) workers, including HR and payroll record keeping
- Develop policies and tools to determine appropriate base pay for employed remote workers
- Modify job evaluation systems to accommodate flexible, agile job designs
- Develop global and regional salary ranges to accommodate large numbers of global remote workers in several countries
Topic/Structure
Base Pay Structures and Processes
In this section, we will review how base pay structures are designed currently, and how salary decisions are made, from offer to merit, promotion and off-cycle adjustments or counter-offers. We will look at future work arrangements for which these structures and processes are not applicable and identify new or modified approaches such as flexpay, non-focal reviews, contractor ranges, differentials, etc.
Contractor Pay Rates
Contractors engaged on a services contract or monthly invoice basis currently fall outside traditional salary range structures, and often are completely outside the scope of HR. They are paid either by payroll or by accounts payable and therefore subject to completely different payment timing policies. We will look at the continuum from employee, to fixed-term contract, to interim contract, to independent contractor, rebadged outsourced services and consultants, in terms of how much to pay, how to review their pay and pay delivery.
Remote Employee Salaries
Employees who request to relocate to another city or country often do so to reduce their cost of living while keeping their current salary. When hired directly on a globally remote basis, what salary range applies? What severance calculation applies? There are conflicting objectives at play, including competition for talent (attract and retain), cost, fairness, and administration/contracting. This module explores the various risks and challenges inherent in permanent remote employment arrangements and presents alternative approaches to optimize achievement of various business and talent objectives.
Job Design and Job Evaluation
The question is no longer “can this person do the job?” but “what can this person do?”. Formal degree and years of experience matter, but do not correlate as strongly with value as traditionally assumed. Accordingly, pay for jobs must broaden its view to look at the value of skills/competencies, and non-recurring work such as projects, internal gigs, rotations and agile work in general which seeks to break job description silos. In this module, we will dissect the modern job architecture and identify alternatives that are more flexible, more agile, that focus more on the person’s value.
Assessment
There will be presentation or written assessments for each module.
Participants have to meet a minimum attendance rate of 75% and have to complete all assessment(s) required by the course. Only upon meeting the minimum attendance and passing the assessment will participants be issued a Certificate of Completion.
Participants who fail the assessment will be given a chance for re-assessment at a fee of SGD100.00 (excluding prevailing GST). Each participant is allowed 1 re-assessment. The re-assessment has to be taken within 7 calendar days from the end of the course date. It will be held on a weekday specified by SMU Academy and conducted during office hours. Please note that re-assessment fees are not supported by SSG Funding.
Participants who meet the minimum attendance rate but do not achieve a pass for the assessment will be issued a Certificate of Participation.
Participants are required to bring their laptop to access the course materials, class exercises and individual assessment(s).
In order to be awarded with the Advanced Certificate in Future Ready Rewards Strategies, participants are required to complete all 6 modules within 2 years.
Calculate Programme Fee
Fee Table
COMPANY-SPONSORED | |||
PARTICIPANT PROFILE |
SELF-SPONSORED |
SME |
NON-SME |
Singapore Citizen < 40 years old Permanent Resident LTVP+
|
$654 (After SSG Funding 70%) |
$254 (After SSG Funding 70% |
$654 (After SSG Funding 70%) |
Singapore Citizen ≥ 40 years old |
$254 (After SSG Funding 70% |
$254 (After SSG Funding 70% |
$254 (After SSG Funding 70% |
International Participant |
$2,180 (No Funding) |
$2,180 (No Funding) |
$2,180 (No Funding) |
All prices include 9% GST
Post Secondary Education Account (PSEA)
PSEA can be utilised for subsidised programmes eligible for SkillsFuture Credit support. Click here to find out more.
Self Sponsored
- SkillsFuture Credit
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Singapore Citizens aged 25 and above may use their SkillsFuture Credits to pay for the course fees. The credits may be used on top of existing course fee funding.
This is only applicable to self-sponsored participants. Application to utilise SkillsFuture Credits can be submitted when making payment for the course via the SMU Academy TMS Portal, and can only be made within 60 days of course start date.
Please click here for more information on the SkillsFuture Credit. For help in submitting an SFC claim, you may wish to refer to our step-by-step guide on claiming SkillsFuture Credits (Individual). - Workfare Skills Support Scheme
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From 1 July 2023, the Workfare Skills Support (WSS) scheme has been enhanced. Please click here for more details.
Company Sponsored
Enhanced Training Support for SMEs (ETSS)
- Organisation must be registered or incorporated in Singapore
- Employment size of not more than 200 or with annual sales turnover of not more than $100 million
- Trainees must be hired in accordance with the Employment Act and fully sponsored by their employers for the course
- Trainees must be Singapore Citizens or Singapore Permanent Residents
- Trainees must not be a full-time national serviceman
- Trainees will be able to enjoy ETSS funding only if the company's SME's status has been approved. To verify your SME's status, please click here.
Please click here for more information on ETSS.
Absentee Payroll
Companies who sponsor their employees for the course may apply for Absentee Payroll here. For more information, please refer to:
AP Guide (Non-SME Companies)
Declaration Guide (SME Companies)
Intake Information
INTAKE 1 (Face to Face at SMU) | |
Advanced Certificate in Future Ready Rewards Strategies Module 3: Future of Base Pay | TBA (Day 1: 9am - 5pm; Day 2: 9am - 6pm) Open for Registration |
Additional Details
Programme Registration
Applications will be reviewed by our Programme Admissions Committee. The decision made by the committee is final and no request to review the decision or reveal the considerations leading to the decision would be entertained.
Certified Professional Business Manager (CPBM)
This programme is part of Certified Professional Business Manager. Participants who successfully complete 6 courses/modules with a minimum of 15 training days, from a list of qualifying programmes (terms and conditions apply) within 5 years will receive the Certified Professional Business Manager (CPBM). For example:
Please click here for CPBM details and list of qualifying programmes.